Lumens Long is activated... Wanted to wait for a cleaner ABC but hourly and 15 leading me to favor my primary count. One more push up towards congestion zone. ATH area
Whether we have one more wave up to complete the five, or are correcting the 5 now. Like my risk to reward and where we stand in the market cycle.
Trade Wisely... Not investment advice
Whether we have one more wave up to complete the five, or are correcting the 5 now. Like my risk to reward and where we stand in the market cycle.
Trade Wisely... Not investment advice
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Last push up then TP. But hold some for FOMO
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5300 doesn't have good symmetry. Could go higher
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Set tight stop. Don't mind if I miss this ride.
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Approx 5037 sats violates my proposed count. Cautious of wicks and then ripping.
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5012 sats or so
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However, Could have an ending diagonal in my fifth lol
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Def partial at 5300. Volume
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Rephrase large partial
Trade closed: stop reached
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Could still retest. Me myself. I shake and bake and look for next best entry.
Happy trading folks. Left 20% in to see if retest
Happy trading folks. Left 20% in to see if retest
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Double bottom and doesn't overlap the 1. Still impulsive on last leg
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Final stop is at 4900 approx
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Just looking like great structure
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When in doubt draw a trend line and if it breaks, it decides for you. Especially since I added back half my original position at 5048 :-)
Trade active
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I was back and forth from 15 min to 2hr trying to get a handle on the count. I find the hourly providing the best visual.
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The thing about walls, when they break down they break down hard. The wall is your only defense. A wise man on Tradingview said, "5300." And I agree. That's the 171/175 on the chart. I would show but I tend to show too many details. Like I said, I've been long. It breaks the line that's good enough. I'll wait for the re-entry. Always another opportunity. Sell-off will be harsh.
And only changed to 1hr cause subdivision looks much, much better. Ya'll guys have fun.
--longmoney out
And only changed to 1hr cause subdivision looks much, much better. Ya'll guys have fun.
--longmoney out
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Oh, and for clarification. That's 90% Lumens. I have some oldies tucked away. But I don't want to attach myself to a person, company, or coin. Look at the logo people. And the name.
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And so you guys don' think I am crazy. Look at the median line and trendline...
Trade closed: target reached:
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Fractal scares me. Had a good run.
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Beat the line. But I've paid the price before. Long coming soon... Watch for bull trap
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Remember I trade spread to BTC
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Diagonal. Could retest highs. Or could retrace. We will let the market decide. No entry for me yet.
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Not in this trade anymore. But upper alarm hit.
Trade active
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Had to go the 15 minute
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Lumens will dance around 5200-5800 if the count holds
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We could have an ending diagonal. Alternate as well. Set stop accordingly
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TP 5800
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In other words... Original chart
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Goodnight people. We shall see what the the rest of the week brings.
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Technically that wick put in the third
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Alternate count
Trade closed manually:
Beginning to favor my alternate count. Uncertainty in the market. Stalemate.
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New count people. I am however not in this trade. Take note of the above revised Elliot count of our third(if people need more understanding just comment).
If we stay in impulsive, which I think that we will due to many confluences, we should revert to our market geometry--the lower parallel of the pitchfork. Also look at the size of the third subwave relative to one. Oh, and the third closed to the tick at the 2618 of the projection of two.
I see bigger upsides from Lumens and then we will correct. If I was in this trade, I would set my target and stick to it. There is always another entry.
If we stay in impulsive, which I think that we will due to many confluences, we should revert to our market geometry--the lower parallel of the pitchfork. Also look at the size of the third subwave relative to one. Oh, and the third closed to the tick at the 2618 of the projection of two.
I see bigger upsides from Lumens and then we will correct. If I was in this trade, I would set my target and stick to it. There is always another entry.
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Divergence on the MACD. Need to retest 5800 to confirm. Lookin good.
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Updated count.
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Never call tops but I think we are done folks. Just can't make a bullish count work
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Correcting or putting in 5 still. Definitely do not like the way 5 is looking. But this is crypto. Anyone's call. Extended fifth wave, ending diagonal. Geez. Kinda expected something crazy. Updates tomorrow
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Quick update. Not sure where are 5 will land, or if it's already in. Seeing Lumens slow down and hesitate. I propose that are 1 wave is in, or alternately nearing its completion (unlikely from my count).
Trade closed: target reached
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Not able to update my charts yet but see Lumens hit 5800. New chart coming soon
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Just wanted to give an update on where I stand with Lumens. Double top and I count 5 waves folks. Looking for a retrace. As much as I love Lumens, I believe we are going to correct at the 50-618 unless buyers are impatient at the 38.
With that said, do not lose sight. That would put us in prime position for our money wave--the 3rd of the 3rd. I notice some other people's counts puts us in the 3rd right now but I can't seem to validate that. Again, my analysis. Longmoney is out until I see a good entry.
Just wanted to give an update on where I stand with Lumens. Double top and I count 5 waves folks. Looking for a retrace. As much as I love Lumens, I believe we are going to correct at the 50-618 unless buyers are impatient at the 38.
With that said, do not lose sight. That would put us in prime position for our money wave--the 3rd of the 3rd. I notice some other people's counts puts us in the 3rd right now but I can't seem to validate that. Again, my analysis. Longmoney is out until I see a good entry.
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My apologies. So tired yesterday did not even realize I uploaded my Substratum chart. Smh
I had some questions regarding my wave 3 count--as some technicians have us in our 3rd wave and not completed. If you revert to my original chart I had an alternate count of a higher 3 less likely. Why so? Because where others see a 1 wave, I see an X wave--a 3 wave failed attempt followed by more correction. For those who favor the alternate count entry zone would be green box above primary green box.
I had some questions regarding my wave 3 count--as some technicians have us in our 3rd wave and not completed. If you revert to my original chart I had an alternate count of a higher 3 less likely. Why so? Because where others see a 1 wave, I see an X wave--a 3 wave failed attempt followed by more correction. For those who favor the alternate count entry zone would be green box above primary green box.
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Regardless of the count, Lumens is at a tipping point. Volume is declining and bulls are becoming quiet. Eventually we will either get a huge spike in volume in either direction. Then we will know the proper count ;-)
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I would like to also caution everyone about timeframes. Whatever your target--stick to your timeframe! Do not look at other charts and change your opinion. I typically trade the 60 or the 120 but do look at everything from 15 min to Daily for clarity. The 60 and 120 just provide me a better visual and fits in line with my swing trading style.
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Possible A incoming, watch for bull trap or use to recover loss
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High of 5836
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First alarm hit. Next alarm set at the 38. Impulsive a wave forming.
Trade closed manually:
New Lumens chart uploading